FINANCIAL ACCOUNTING - 2nd Edition

Introduction. The above audio file explains how a student can use this series of audio lessons to help them learn financial accounting.

Chapter One, Section One. The above audio questions and answers explain how financial accounting helps individuals to make good decisions about organizations.

Chapter One, Section Two. The above questions and answers look at and explain the corporate form of legal organization frequently adopted by businesses in the United States.

Chapter One, Section Three. These questions and answers complete coverage of Chapter One of Financial Accounting by Hoyle and Skender by examining the informational needs of both investors and creditors.

Chapter Two, Section One. The above audio questions and answers discuss the reporting of financial statements and the significance of the term "presents fairly."

Chapter Two, Section Two. These questions and answers look at the challenge to financial accounting of reporting information that contains some amount of uncertainty.

Chapter Two, Section Three. These questions and answers describe the need for official accounting rules, both US GAAP and IFRS.

Chapter Two, Section Four. These questions and answers examine four essential accounting terms: assets, liabilities, revenue, and expense.

Chapter Three, Section One. These questions and answers describe the contents and structure of an income statement.

Chapter Three, Section Two. These questions and answers look at a company's reported profitability and the practice of conservatism.

Chapter Three, Section Three. The above questions and answers examine the meaning and presentation of a company's retained earnings balance.

Chapter Three, Section Four. These questions and answers present the structure and content of a balance sheet and a statement of cash flows.

Chapter Four, Section One. These questions and answers introduce transactions and transaction analysis.

Chapter Four, Section Two. These questions and answers study the impact on account balances created by a number of different types of transactions.

Chapter Four, Section Three. These questions and answers allow you to practice using the debit and credit rules.

Chapter Four, Section Four. These questions and answers examine various journal entries and the impact of accrual accounting.

Chapter Four, Section Five. These questions and answers provide practice in using debits and credits to create journal entries.

Chapter Five, Section One. These questions and answers examine the adjusting entry process by demonstrating the recording of accrued expenses.

Chapter Five, Section Two. The above questions and answers analyze the reporting of prepaid expenses, accrued revenue, and unearned revenue.

Chapter Five, Section Three. These questions and answers look at the preparation of financial statements.

Chapter Six, Section One. The above questions and answers introduce Chapter Six by helping to describe the work of the SEC and FASB and other important elements in the world of financial reporting.

Chapter Six, Sections Two and Three. The above questions examine the role of the SEC and the independent auditing profession within the financial reporting process of the United States.